Huge bag of coins.. where do I start?

[southernmom]

Hi, my name is Nicole and I have no idea what to do with coins but shop. Thus my dilemma ... my husbands Grandmother who has been "saving her change" for 97 years passed over her huge canvas bag of change to us. She doesnt care what we do with it all but she is curious to see how much value it all adds up to. I just dont know where to start I have found out some of the names of the coins but to actually sit with it all and look it all up could take me years. It has taken me a month to go threw the shoe box of mercury dimes ... no 1916D. We put about 70 proof sets and things that look like proof sets in a safety deposit box but now what? Please any help on at least things that I can to organize it all? Or at least rule out which coins I could not bother with right away?
Any help is truly appreciated, I feel very burdened.

~Nicole

 

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[BuckleBoy]

Don't feel burdened! You have an exciting opportunity--and potentially a VALUABLE task ahead of you. Take your time, and chip away at it little by little. Do it yourself--don't take the coins to a dealer. They'll want to buy them for a song, and screw you over in the process. I would separate the coins by type, and then slowly go through them. Hold them on the edges, and whatever you do, don't clean them with anything. Take a new coin price guide and mark down all the valuable dates so that you'll know what you're looking for. Then roll up all the common silver coins for easy saving and storage. By the way, the 1916-D isn't the only valuable mercury dime. Check out the year 1921 also, and the 1945 Micro "S". Take some time and educate yourself on where the mintmarks appear on each coin type. Buy the book "Photograde" or some other handy reference (this one is cheap--under 20 bucks, and well worth it). That way you'll know what condition the coin is in. Photograde is handy because it has a photo of every type of coin in every grade.

Just take your time, and don't get overwhelmed.


Regards,


Buckleboy

 

[Ant]

I think you need a up to day Red Book of coins. You can also go to coinfacts dot com. I'm no coin expert by any means but that's a start.

 

[Charlie P. (NY)]

You didn't find any proof sets. You might have assembled some "near mint" sets but proof strikes don't go into general circulation.

Now you want to go to the grocery store or a book store and get a copy of U.S. Coin Values and check out the values by denomination & mint. Cheaper than a red book and more current. You can also visit http://www.pcgs.com/prices/ and do some look-ups if you have time to kill.

Anything before 1964 in a dime, quarter, half or whole dollar is silver and worth being careful with.

Sometimes cleaning them (even carefully with soap & water) can do a lot to reduce the value. Be careful.

Burdened? I wish I had such problems.

 

[southernmom]

Ok so maybe I should clarify why the "burden" his Grandmother would like to know the value. At 97 years old almost 98 I feel as though I need to get on this pronto, hence the "burden". The proof sets clearly said "proof" on the blue (I think some where also a different color as well) cardboard material that wrapped around the sealed plastic case. I have a list somewhere around here of the sets that went into the safety deposit bank. Thanks for the names of the books and websites as well. Is there any certain store I could buy no acid paper stuff to sort them in? I was concerned about the coin dealers doing the whole "oh its only worth 5.00 let me take that off your hands" so I haven't fully thrown in the towel.

Thanks again~
Nicole

 

[Ricardo_NY1]

For a quick and free way to estimate value, go to PCGS.com and look up their price guides. This is only a start. For real world selling prices, you can enter your coins into an Ebay "Completed Listings" search to get a good idea of what people are willing to pay. You can then price accordingly. Any online public auction place that displays closed auction results, like heritage should give you a really good idea. Because like me, you probably do not posses the ability to accurately grade coins, you are at a disadvantage to price them. However, any good coin that stands out in price (Usually these are worth alot in any coindition, a 1916D Merc being a perfect example), that is the type of coin worth sending out to get graded. You will get a better price if it is slabbed (Encapsulated).

 

[mtntrekr2]

check your messages or mail. I sent you a pm
Joe

 

[southernmom]

Thank you very much Joe for taking the time and explaining it all to me. I am going to get one of those red books and start 1 piece at a time. My sons were very interested in the coins last night while I was looking at some pieces so I think we will make it a family project a few times a week. Maybe this won't take so long after all if we all get involved.

thanks~
Nicole

 

[southernmom]

Talked to Grandma she was so excited that she had me go pick up another canvas tote of her favorites. Apparently she collected ... alot *lol* She worked at a grocery store and would buy change out of the register and when she got paid she would ask the bank teller to pay 50% in change.

So here are some pics of what my kitchen table looks like now:

I am wondering if I should unwrap the pennys? Grandma wrote uncirrculated on some of the wrappers.. probably not a good idea but how will know what years are in there?

 

[Bridge End Farm]

Yes take your time, just a box or roll at a time. and you have no time limit. When my uncle died he left me a bag of coins I had to do the same thing. I bought some of those tackle box trays and started by just sitting down and just putting the coin years together after that I broke it down further by D S etc. I then stuck them in coin books which used to be pretty cheap. Had a few trays for each type of coin penny, nickel, etc. Once I had them separated then I got a book and found out the value of each of them and wrote it below them. Added it all up and insured it. I wish I could tell you it was done in a few hours but it will take many hours. If I had kids I probably would of involved them and far as separating would be like putting together a puzzle together. Have fun

 

[MrMorph]

Sounds like you have a wonderful thing there. Congrats

However, here is where you start..... send them all to me. Just kidding

Good luck

 

[lou423]

Just do not let the coins roll around. Keep them tightly packed until you are ready to search them.
Take your time.
You lucky lady.

 

[rwsnc]

Southermom.... A lot of good advice here. Let me add one suggestion.

The Red Book lists prices that an individual might expect to pay for a coin, however, the Blue Book lists prices that a dealer might expect to pay for the same coin, which is going to be lower.

Something to consider, depending on your future plans.

 

[Marty-Graw]

dont forget to wear some kind of cotton gloves when handling any of the uncirculated coins...or even the silver for that matter......the oils in your skin can damage the finish on the coins....good luck and keep us updated

 

[VERMONTPACKRAT]

I may suggest asking any coin questions in the "coins" section. Lots of coinwise folks over there. I think you will find your answers to be honest and fair.

Good luck and have fun. VPR